The point of the volume as confirmation is key. I use something similar in futures, and without volume, the price stock is caught. Excellent observation.
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The point of the volume as confirmation is key. I use something similar in futures, and without volume, the price stock is caught. Excellent observation.
You should also consider a larger time frame to confirm the macro direction. A nice candle in M15 can be just a recoil in H1.
Very good about the previous range. I apply a similar rule: if the price is boxed, nor do I bother to look for setups, even if it meets all the criteria.
Thank you for sharing such clear ideas. I wish more people here would contribute this way, instead of arguing for egos.
What volume indicator are you using? The classic MT4 or one that has a real volume reading tick volume type?
Totally according to the importance of the diary. In my case, I use screenshots and write down my emotions. It�s impressive what that reveals.
I'm going to test this system in demo for the next two weeks and tell you how it is.
I'd like to see a couple of real shots of the applied system. That would help a lot to visually understand the patterns you're describing.
I don't operate forex, but in actions I see the same behavior you describe. Three candles, change of hands, volume: logic is universal.
This thread is already more valuable than many books of miraculous systems. Here there is reality, experience and cold head.